H.10(512) July 23, 2004 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JULY 23, 2004 The Board of Governors of the Federal Reserve System is advised that the Federal Reserve Bank of New York has certified for customs purposes the following noon buying rates in New York City for cable transfers payable in foreign currencies: (Rates in currency units per U.S. dollar except as noted) MONETARY COUNTRY UNIT Jul. 19 Jul. 20 Jul. 21 Jul. 22 Jul. 23 *AUSTRALIA DOLLAR 0.7334 0.7313 0.7131 0.7152 0.7102 BRAZIL REAL 2.9980 3.0025 3.0435 3.0430 3.0455 CANADA DOLLAR 1.3082 1.3099 1.3242 1.3136 1.3219 CHINA, P.R. YUAN 8.2766 8.2767 8.2766 8.2766 8.2766 DENMARK KRONE 5.9820 6.0080 6.0850 6.0580 6.1350 *EMU MEMBERS EURO 1.2431 1.2377 1.2224 1.2273 1.2122 HONG KONG DOLLAR 7.8000 7.8002 7.8000 7.8000 7.8005 INDIA RUPEE 46.11 46.10 46.13 46.30 46.35 JAPAN YEN 108.28 108.38 110.10 109.68 110.11 MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.8000 3.8000 MEXICO PESO 11.379 11.401 11.466 11.446 11.439 *NEW ZEALAND DOLLAR 0.6591 0.6571 0.6377 0.6428 0.6360 NORWAY KRONE 6.8250 6.8660 6.9350 6.9160 7.0135 SINGAPORE DOLLAR 1.6997 1.7039 1.7160 1.7169 1.7259 SOUTH AFRICA RAND 5.9050 5.9700 6.0950 6.0700 6.2250 SOUTH KOREA WON 1157.70 1160.60 1158.60 1162.60 1166.60 SRI LANKA RUPEE 103.030 102.880 102.700 102.700 102.950 SWEDEN KRONA 7.3990 7.4390 7.5175 7.4940 7.5870 SWITZERLAND FRANC 1.2281 1.2381 1.2549 1.2461 1.2632 TAIWAN DOLLAR 33.840 33.870 33.835 33.850 33.965 THAILAND BAHT 40.780 40.830 41.090 41.080 41.150 *UNITED KINGDOM POUND 1.8734 1.8556 1.8354 1.8470 1.8321 VENEZUELA BOLIVAR 1920.00 1920.00 1920.00 1920.00 1920.00 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 114.10 114.37 115.31 114.96 115.55 2)MAJOR CURRENCY MAR73=100 85.37 85.65 86.75 86.28 87.01 3)OITP JAN97=100 144.99 145.15 145.52 145.52 145.68 This release is available online at http://www.federalreserve.gov/releases/H10. For more information on exchange rate indexes for the U.S. dollar, see "New Summary Measures of the Foreign Exchange Value of the Dollar," Federal Reserve Bulletin, vol. 84 (October 1998), pp. 811-18 (http://www.federalreserve.gov/pubs/bulletin/). Weights for the broad index can be found at http://www.federalreserve.gov/releases/H10/Weights; weights for the major currencies index and the other important trading partners (OITP) index are derived from the broad index weights. The most recent annual revision to the trade weights and dollar indexes took effect in early December 2003, and is reflected in the December 22, 2003 release of this weekly report. The source for exchange rates not listed in the table above but used in the calculation of the broad and OITP indexes is Reuters Limited. * U.S. dollars per currency unit. 1) A weighted average of the foreign exchange value of the U.S. dollar against the currencies of a broad group of major U.S. trading partners. 2) A weighted average of the foreign exchange value of the U.S. dollar against a subset of the broad index currencies that circulate widely outside the country of issue. 3) A weighted average of the foreign exchange value of the U.S. dollar against a subset of the broad index currencies that do not circulate widely outside the country of issue. The euro is reported in place of the individual euro-area currencies. These currency rates can be derived from the dollar/euro rate by using the fixed conversion rates (in currencies per euro) given below: 1 EURO = 13.7603 AUSTRIAN SCHILLINGS = 40.3399 BELGIAN FRANCS = 5.94573 FINNISH MARKKAS = 6.55957 FRENCH FRANCS = 1.95583 GERMAN MARKS = .787564 IRISH POUNDS = 1936.27 ITALIAN LIRE = 40.3399 LUXEMBOURG FRANCS = 2.20371 NETHERLANDS GUILDERS = 200.482 PORTUGUESE ESCUDOS = 166.386 SPANISH PESETAS = 340.750 GREEK DRACHMAS For information about your subscription to this release or about receiving it in document form, please call publication services at Federal Reserve Board at (202) 452-3244.